The 10 day moving average will be on a steep ramp up chasing the current price as it drops lower prices each day.  I expect it to offer some support when it gets up there.  I won’t be surprised at all if the 10 dma and the trend line I keep talking about come into play on the same day, keeping BA higher.

The BA chart is going to get really interesting when BA finally gets over the intraday high of $53.39 it hit in June.  Once above that I might have to roll my puts higher since I thing that’ll just be another hurdle out of the way for BA.  I’m sure the gap yesterday was partially due to short covering, so for the next few days (maybe weeks) BA should stay in the low $50s as the dust settles.  As long as it’s above $50 by October options expiration I’ll be satisfied with it.